*

Nobel Laureate Joseph Stiglitz: *

Foreclosure Moratorium, Government Stimulus Needed to Revive US Economy *

on Democracy Now (democracynow.org), October 20, 2010, interviewed by Amy Goodman *

As the Obama administration rejects a foreclosure moratorium and austerity protests grip Europe, we assess the state of the US and global economy with Nobel Prize-winning economist Joseph Stiglitz, author of Freefall: America, Free Markets, and the Sinking of the World Economy. Stiglitz backs calls for a foreclosure moratorium and says opponents of a new government stimulus (like the Tea Party, Republicans and most Democrats) "don't understand basic economics." On war, Stiglitz says Iraq and Afghanistan are "the first wars in Americaâs history financed totally on the credit card." *

transcoded, edited and uploaded by bsanandaATyahooDOTcom *

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